ALPHINAT ANNOUNCES PRIVATE PLACEMENT FOR A MINIMUM OF $500,000 AND A MAXIMUM
OF $1,000,000

/THIS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

MONTREAL, Dec. 22 /CNW Telbec/ - Alphinat Inc. (TSX-VN : NPA), a leader in innovative Software for the Smart Enterprise™, announces that it has completed the closing of the first tranche of a private placement of units for a minimum gross proceeds of $500,000 and a maximum gross proceeds of $1,000,000 at a price of $0.10 per unit, each unit comprised of one common share and one eighth of a common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.12 on or before December 22, 2013. The net proceeds from the private placement will be used to fund the expansion of the sales and marketing team as well as for working capital purposes. The units have been sold to "accredited investors" in the Province of Québec and elsewhere on a prospectus-exempt basis. The second tranche closing is expected to occur no later than January 31, 2011.

The closing of this first tranche results in the issuance of 7,625,000 units at a price of $0.10 for an aggregate gross proceeds to Alphinat of $762,500.

In connection with the private placement, Alphinat will pay to Capital CCFL s.e.n.c. (www.ccflcapital.com), an Exempt Market Dealer registered with the Autorité des marchés financiers, a finder's fee in a maximum amount equal to 6% of the gross proceeds of the private placement raised through CCFL Capital and grant compensation options to Capital CCFL to purchase up to 6% of the common shares issued in connection with the private placement.  Each compensation option will entitle its holder to acquire one additional common share of Alphinat at a price of $0.10 on or before December 22, 2015.

In connection with the private placement, one investor had irrevocably agreed to subscribe for a minimum amount of $300,000 and agreed to provide Alphinat with a subscription commitment for an additional maximum amount of $200,000 should the minimum private placement amount of $500,000 not be met by January 31, 2011.  In consideration of this subscription commitment, Alphinat has granted the investor 300,000 common share purchase warrants.  Each such whole warrant entitles its holder to purchase one additional common share at a price of $0.12 on or before December 22, 2013.

The common shares and warrants issued by Alphinat under the private placement are subject to a four-month hold period expiring on April 23, 2011, in accordance with applicable securities laws.  The first closing of the private placement has increased the number of issued and outstanding common shares of Alphinat to 45,078,612. The private placement is subject to final regulatory approval from the TSX Venture Exchange.

About Alphinat

Alphinat develops, markets and supports software technology that enables non-technical managers to configure and deploy form-based Web applications and utilities that helps organizations and governments better serve clients. This technology uses sophisticated data organization and processing software to automate interactions between systems, employees, clients, suppliers and partners. The software is ubiquitous across organizational entities and information processing platforms, permitting a high level of collaboration in delivering complex service outcomes using existing legacy systems.  It provides efficient and cost-effective solutions to clients at both the time of acquisition and on an ongoing basis.

Alphinat technology could also be used in the healthcare, banking, insurance, telecommunications and other sectors, in modernising, automating and rendering cost-effective a number of business processes at a fraction of the cost associated with conventional customized solutions. For more details about Alphinat or its software suite, please visit www.alphinat.com.

Forward-looking statements

Certain statements in this document, including those which express management's expectations or estimations with regard to the Company's future performance, constitute "forward-looking statements" as understood by applicable securities laws. Forward-looking statements are, of necessity, based on a certain number of estimates and hypotheses; while management considers these to be accurate at the time they are expressed, they are inherently subject to significant uncertainties and risks on the commercial, economic and competitive levels. We advise readers that these forward-looking statements are subject to risks, uncertainties, and other known and unknown factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements. A number of factors could cause significant differences between actual results and those described in forward-looking statements. These include, but are not limited to, the Company's and CCFL Capital's ability to find subscribers in connection with the proposed private placement.  This is only one of the factors that could bear on any of our forward-looking statements. Investors are advised to not rely unduly on the forward-looking statements. This advisory applies to all forward-looking statements, whether expressed orally or in writing, attributed to Alphinat or to any individual expressing them in the name of the Company. Unless required by law, the Company is under no obligation to publicly update these forward-looking statements, whether to reflect new information, future events, or other circumstances. Risks and uncertainties that bear on the Company are described in greater detail in the Company's Annual Report.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Mr. Philippe Lecoq
Chief Executive Officer Alphinat Inc.
[phone] ext 222